The Fourth Industrial Revolution

Transcription

1 The Fourth Industrial Revolution

2 What is the Fourth Industrial Revolution? Convergence of AI, IA, Robotics, IoT, Identity, Quantum, Nano, Biotech & 3D Printing Creation of Global Digital Neural Nets Unprecedented Velocity & Scope, Exponential versus Linear growth & Disrupting almost every industry globally Opportunities from: Growth, Ecosystems & Reduced Cost

3 Diamond of Disruption Winner or Loser? Low single digit revenue growth Being disintermediated or commoditized Margins Under Pressure Low NPS and Low Customer Satisfaction

4 Our reality today 1 The average life expectancy of a Fortune 500 company has declined from around 75 years half a century ago to less than 15 years today Deloitte 2015 Shift Report

5 Our reality today 2 There is a continued downward trend in return on assets (ROA) among US public companies -which has declined to one quarter of its level in 1965 Deloitte Shift Index 2013

6 Our reality today 3 Without action, global economic growth will almost halve in the next 50 years the world isn t running out of technological potential for growth. But achieving the Increase in productivity required to revitalize the global economy will force business owners, managers, and workers to innovate by adopting new approaches that improve the way they operate. McKinsey Global Institute 2015

7 Our reality today 4 Digital flows - which were practically nonexistent just 15 years ago - now exert a larger impact on GDP growth than the centuries-old trade in goods McKinsey Global Institute (MGI) Report

8 First and Second Industrial Revolution

9 Third Industrial Revolution

10 Fourth Industrial Revolution

11 New Blue Oceans and the Productivity Paradox Crossing the Chasm Mentally awake firms are starting to invest in new technologies. There is however a delay in productivity gains as many companies are slow to evolve or continue to invest in old technologies Mainstream Market As the market starts to mature investing in these new technologies will be a competitive necessity Early Market We are in the early adopter phase of the Fourth Industrial Revolution The Chasm Late Market Innovators Early Adopters Early Majority Late Majority Laggards

12 Digital revolution Intelligent, Hyper-Personalised & Ambient TECHNOLOGY MILLENNIALS EXPERIENCES ECONOMY GOVERNMENT Supplier Manufacturer Integrator Distributor Retailer

13 Digital revolution Intelligent, Hyper-Personalised & Ambient Integrator Supplier Manufacturer Distributor Retailer 13

14 Four business models for the digital era Weill found that Companies that had 50% or more of their revenues from digital ecosystems and understood their end customers better than their average competitor had 32% higher revenue growth and 27% higher profit margins than their industry averages. Complete Knowledge of end consumer Omnichannel business Owns customer relationship Multiproduct, multichannel customer experience to meet life events Integrated value chain Examples: Banks, Retailers Supplier Sells through another company Potential for loss of power Skills: low-cost producer, incremental innovation Ecosystem driver Provides a branded platform Ensures great customer experience Plug-and-Play third-party products Customer knowledge from all data Matches customer needs with providers experience Extracts rents Examples: Amazon Modular producer Plug-and-Play product/service Able to adapt to any ecosystem Constant innovation of product/service Prof. Peter Weill MIT/Sloan 2015 Partial Examples: insurance via agent, mutual fund via broker Examples: Paypal Value chain Business Design Ecosystem

15 MyWave at forefront of enabling the Fourth Industrial Revolution Operates at the intersection of AI, Mobile Devices and Internet of Things (IoT). Enables businesses to generate increased sales and revenues through: the development of technology-enabled platforms that combine both demand and supply to disrupt existing industry structures, such as those we see within the sharing or on demand economy. These technology platforms convene people, assets, and data - thus creating entirely new ways of consuming goods and services in the process World Economic Forum

16 MyWave is creating a world where you have an Intelligent Assistant who can switch you automatically to the best power rate whenever one becomes available, where the tedium of forms is removed and where you have a guide to help you through any complex process such as finding a home, getting a mortgage, buying a car, becoming healthier, in fact getting anything you want that is the world we are delivering with Frank Your IA.

17 Ecosystems, platforms & networks Real Estate Intelligent Personal Assistant (IPA) Meets Internet of Everything (IOE) An ecosystem with memory, you only need to be verified once Utilities Travel Banking Retail Health

18 Personalised Authentication based on what makes each of us unique

19 Authentication as an enabler Genome Voice Authentication, Identity and Personal Data are the invisible fuel powering the Fourth Industrial Revolution Behavioral Memory & Personalization Fingerprint Typing Patterns Single Interface to Everything Retina Facial Recognition Password Heartbeat

20 Norms of Human Relationships 83% of US consumers would not use an Intelligent Assistant if it gathered and shared personal information without their knowledge or control Ipsos Public Affairs Research, 2015 Mutual Value Respect Permission Trust A conversation

21 Real estate Best Nest

22 Better account

23 Energy

24 Saveawatt Consumer Feedback 76% of respondents rated their first impression of the app positive to very positive Saveawatt is seen as a Next Generation Intermediary (NGI) allowing consumers to outsource the onus (of the switching process), presenting consumers with an alternative route to market in those sectors they have little inclination to engage in of their own accord. We are particularly interested in the potential of NGIs to transform engagement in the three markets covered here:energy, financial services and telecoms - Richard Bates for Consumer Futures (2014) 87.5% of respondents are open to someone else managing their power (i.e. finding new plans, moving you to a new power provider) Saveawatt App has a positive NPS (net promoter score) 87.5% respondents would use saveawatt app to manage their power based on the app Providing customers with use over their consumption data will allow detailed analysis into exactly which tariff would be the cheapest for customers, rather than estimates provided by comparison websites

25 Saveawatt Retailer Feedback Pulse also love the mechanism, simplicity and low cost for acquiring customers Electric Kiwi (new challenger retailer) see Saveawatt as a solution to combating win-back s performed by the bigger retailers. Presently the incumbent will often call a lost customer to win them back with offers the customer does not know how to compare with what they have been offered by Electric Kiwi. Meridian have said they see technology as an unavoidable evolution in the energy business and Saveawatt gives Meridian a means to partake in this evolution without having to develop the solutions themselves. Larger retailers in general Retention is a major part of their businesses and they see the Saveawatt retention model as a great opportunity to retain their customers before being contracted by the competition.

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